Not content with playing a social media and tech guru in the movies, “The Social Network” star Justin Timberlake has secured himself a corner office after signing on with Specific Media to buy limping social media site MySpace, sold by NewsCorp for $35 million yesterday.
Specific Media and Timberlake plan to relaunch the new site in a few months.
“When we met with Justin and we discussed what our strategy was, we hit a chord with him,” Specific Media CEO Tim Vanderhook told The Associated Press. “One of his passions is he really enjoys helping other artists and creating a community for people to really express themselves. I think we were blown away that we were able to get someone like Justin to be so excited about what we were doing.”
Timberlake will have an office at MySpace’s Beverly Hills headquarters and a staff of about a half dozen people working for him “around the clock” developing his ideas for the site, Vanderhook said.
NewsCorp still has a five percent stake in MySpace but they’re out over $500 million dollars.
Justin Timberlake and Cameron Diaz at the “Bad Teacher” premiere.